Real World Budgeting

By Aimee Frame •

Grade Level	10th or lower
Subject Area	Math
Duration	6, 40-minute class periods
Background Knowledge	1. Students must know basic number skills including converting percents, decimal, and fractions. 2. Students must be able to calculate a percentage of a value. 3. Students must be able to manipulate and compute real numbers.
Author	Amy Dimmerling - Kim Warfield- Emma Massie

Summary
This lesson requires the students to think and prepare beyond high school. The students will choose a job, find an apartment, and find a mode of transportation. They will calculate their monthly gross and net incomes. Students will also become aware of other living expenses and optional expenses that they could incur. From all of this information the students will create a monthly budget for themselves. They will be given different monthly situations so that they can “test” their budget.

Objectives
Students will: 1. Organize information and make decisions and conclusions from this information. 2. Learn the process of calculating gross and net income. 3. Be introduced to the process of buying a car. 4. Calculate a monthly budget.

Materials Required
Handouts - Calculator - Highlighter - Newspapers - Glue - Projector -Laptop -PowerPoint Presentation

Ohio Standards

Mathematics

Number and Number Systems

Grade 6

* Describe what it means to find a specific percent of a number, using real-life examples.
* Determine the percent of a number and solve related problems.
* Describe what it means to find a specific percent of a number, using real-life examples.

Grade 7

* Explain the meaning and effect of adding, subtracting, multiplying and dividing integers.

Grade 9

* Demonstrate fluency in computations using real numbers.